mSHERP

At the heart of the Sherpa procotol is the mSHERP lockup mechanism. With this, users stake $SHERP for a predetermined amount of time, receiving in return the yield bearing mSHERP.

Core Components

The mSHERP system takes its core components from the longstanding and sustainable veCRV and vePENDLE systems, with the following changes unique to Sherpa:

• mSHERP offers a volume multiplier
• mSherp HODLers receive numerous protocol specific benefits based on the amount of time locked and stake value committed, including
  1. Strategy creation rights
  2. Voting weight and fee intake percentages
• mSherp holding tiers are intentionally configured to incentivize large individual holders over sybils.

Supply and Value

mSHERP is transferable but the protocol will not add, maintain, or incorporate any liquidity relating to mSHERP into its framework; only $SHERP is liquid. Its value will therefore be directly determined by $SHERP. The maximum possible supply of mSHERP is 20B tokens. This is exactly two times the total supply of $SHERP. Although possible, there is a near zero chance this amount of mSHERP will even be minted based on the game theory regarding its conversion factors.